The stakes are huge for Credit Suisse in the trial of a Geneva-based wealth manager who was arrested on charges he traded in client accounts without their permission, forged orders and moved funds from some client accounts to cover losses in others.

Just months before the wealth manager’s arrest, the bank considered giving him freer rein to do as he saw fit with client money – including the assets of his biggest client, billionaire and former Georgian Prime Minister Bidzina Ivanishvili. Credit Suisse risk and compliance officers met with the banker and his Geneva manager and reportedly formulated a plan whereby the wealth manager would use funds from Ivanishvili’s account without having to ask the client for permission.  The client then would receive a daily e-mail update on the trades that were made.

But the wealth manager went beyond the agreed upon plan, by trading in client accounts without their permission, forging orders and moving funds from some accounts to cover losses in others. The events are now the subject of half-a-dozen lawsuits in Switzerland by Ivanishvili and others, in addition to the investigation by the Geneva prosecutor. Six plaintiffs to date have filed criminal complaints against the wealth manager, with at least 3 of them alleging that the Frenchman may have benefited from the complicity of colleagues. Two plaintiffs cited Credit Suisse in their complaints, asking for the bank to be held liable if wrongdoing can’t be attributed to an individual.

Ultimately, the fallout could result in reputational damage for Credit Suisse, which has pinned its future in large part to the wealth management business as investment banking shrinks.